Monthly Archives: November 2018

The patron saint of Scotland, St Andrew was known for being strong, sociable and fair. Characteristics that Scots are proud to stand for, they celebrate St Andrew’s Day with acts of kindness and good deeds on the 30th November each year.

Whether you’re dancing a ceilidh, hiking around Loch Lomond or just knocking up some tatties and neeps, it’s a day to enjoy all things tartan. Plus as an official holiday, you get the day off work if you’re north of the border.

To join the celebration, we visited three thriving Scottish businesses: The Good Spirits Company, Alex McDougall Mowers and Highland Wi-Fi. All three businesses have been able to go further, thanks to the fantastic support of Funding Circle investors.

In this video you’ll meet Calum, Alex & Shirley and Matthew. They talk about why they’re proud to be a Scottish business and how support from Funding Circle has helped them achieve their business goals.

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To help even more businesses get the funds they need to grow, sign in to your account and add more funds today. Remember, by lending to businesses your capital is at risk.

We’re pleased to announce that from today, you will be able to download the Funding Circle App to use on your Android device. The app can be downloaded for free from the Google Play store.

The Android app will allow you to keep track of your Funding Circle account while you are on the go. It will offer you fast, secure access to your portfolio, including fingerprint sign-in functionality.

In the first version of our new Android app, you will be able to check how your portfolio is performing and view your account summary. For now, if you need to add funds to your account or change your lending options, please continue to do so by using your desktop device. We’ll be adding more functionality in the future, and as always we appreciate your feedback to make the app as simple and easy to use as possible!

Looking for some inspiration for presents this Christmas? Below you will find seven dazzling and delicious gift ideas to wow your loved ones. These fantastic companies have all been able to succeed thanks to your lending.

Inside out toys

Are you struggling to think of something to buy the little ones? Inside out Toys sell branded children’s toys on Amazon and Ebay; providing endless hours of amusement and important learning tools. They are a family owned company; established in 2011 by Nicki and Julian Garner. They have borrowed over £460,000 across seven loans to develop their ‘jumini’ wooden toy range and to purchase more stock.

Enjoy travel

Is your loved one obsessed with travelling? Or perhaps they just need a break away? Make sure you check out Enjoy Travel and their amazing deals. They are a fully licenced tour operator who specialise in finding you your perfect break away. Gerry and his team pride themselves on providing the most enjoyable, memorable music-filled holidays available. With thanks to your investment , Enjoy Travel has been able to create several new music festivals across Europe, including their latest ‘Celtic on the Coastas’ which has just been launched.

Wine Discovery

If you haven’t bought the perfect gift for the wine lover in your life, don’t worry! You can book a relaxing wine tasting event at their home or chosen venue from Wine Discovery Limited. Weather they are looking for an introduction to wine tasting or just want to spend time with friends this is the perfect gift. Their prices start from £25.00 per person; offering a range of different experiences. The company borrowed £6,000 in 2017 to improve their website and buy additional stock.

Bedale Beauty

Looking to push the boat out when it comes to your Christmas shopping this year? If you are on the hunt for something memorable, then check out the treatments available at Bedale Beauty in North Yorkshire. They opened in 1992 and are known locally for their high standard of treatments, product ranges and customer service. They offer the perfect range of Gift Sets; ranging from make up collections, bathing products and many more. The team borrowed £25,000 from investors to push forward with their expansion plans and change the layout of the salon.

Grasmere Chocolate Cottage

Christmas time calls for some festival indulgence- so why not celebrate in style by purchasing a chocolate box from Grasmere Chocolate Cottage Limited! Their aim is to create culinary and visual delights worthy of their iconic Lake District surroundings. Richard and Angela Barker managed to expand their premises and staffing with a £30,000 loan. Their chocolate goodies are all handmade, so make sure to check them out!

Red Star Brewery

Instead of spending Christmas at your local, surprise your Dad by booking a unique beer tasting experience at Red Star Brewery in Merseyside. The company was formed in 2015 by two friends with the aim to produce ales using the finest hops from around the world. They have since gone on to export beers as far as Serbia and won two gold medals at the 2015 NW Siba awards. The team borrowed £10,000.00 to purchase 150 casks to keep up with their demanding customers.

If you were hanging on to Phillip Hammond’s every word on Monday 28th October, waiting to hear what changes he would be making for investors, you probably came away disappointed…or relieved.

Because frankly, this year’s Budget had remarkably little news for investors and savers.

In the main that was a good thing. In the run-up to the Budget analysts were widely predicting a raid of the pensions annual allowance and possibly a reduction in the ISA limits and changes to IHT exemptions. But no. Silence on all counts. It was largely a giveaway Budget with very little clawed back by the Chancellor – particularly for investors.

ISAs

For the tax year 2019/20 the annual ISA allowance remains at £20,000, and pension investors can still stash away £40,000. Neither are to be reduced which is a huge relief for anyone looking to build their retirement savings. Combining the two, which many investors do in order to make the most of their tax advantages, these allowances enable most people to invest in a nest egg tax-efficiently.

Also if you are an ISA investor who holds Alternative Investment Market (AIM) shares you can breathe a sigh of relief too. Since 2013, AIM shares have been allowed in ISAs, enabling ISA investors to create portfolios that are free of inheritance tax as well as income and capital gains tax. Investors will be glad not to have lost this in the last Budget.

There is also a positive move for parents investing for their children. The annual subscription limit for Junior ISAs for 2019-20 will be uprated in line with inflation to £4,368.

Income tax

The thresholds for income tax are also being tweaked. Continuing the government’s policy of the last few years, the personal tax free allowance is edging up, as is the higher rate tax threshold. Here’s what they’ll be for 2019/20:

Personal allowance – £12,500

Basic rate (20%) – £12,500-£50,000

Higher rate (40%) – £50,000-£150,000

Additional rate (45%) – £150,000+

For those earning over £100,000, the personal allowance works a bit differently. For every £2 over £100,000 that you earn, your personal allowance will be reduced by £1. So, if you earn £125,000 or more, you’ll have no personal allowance and will have to pay income tax on all of your earnings.

Stock market investing

There was little for stock market investors in this Budget, but some of the chancellor’s ideas will have an impact.

“Investors breathed a sigh of relief as the Chancellor maintained the status quo in terms of allowances,” says Moira O’Neill from Interactive Investor. “For example, over the years, chancellors have been fond of meddling with venture capital trusts and enterprise investment schemes, which grant investors appealing tax advantages for investing in early stage companies. But no sign of more with these regimes in this Budget.”

Last year there were unexpected cuts to the dividend tax allowance, which was reduced to £2,000, but the Chancellor did not wield the axe further this time. It was hoped that he might have reversed the cut this year and it was a shame that he didn’t, but at least it wasn’t increased.

The tax advantages of shares listed on the Alternative Investment Market (AIM), London’s junior market, were expected to be in the Chancellor’s line of fire, but also escaped.

Savings

In the ‘small print’ of the Budget announcement we heard a few bits of good news for savers.

For a start the minimum investment required to hold Premium Bonds will fall from £100 to just £25 by the end of next March, which will be welcomed by small savers and those who like to give Premium Bonds as a gift to children and grandchildren.

Also, the criteria for buying bonds as gifts for children under 16 will also be loosened going forward. The new rules say that aunts, uncles and family friends are now going to be allowed to gift bonds worth up to £50,000 per child. Currently they can only be bought by parents, grandparents and legal guardians. National Savings & Investments will release further details of these changes later.

Still on the subject of saving for children, a consultation on draft regulations for maturing Child Trust Fund accounts will be published next year, as announced in the Budget. These were launched in 2002, but were then superseded by Junior ISAs in 2011. The Budget also included news that the annual subscription limit for Child Trust Funds for 2019-20 will be uprated in line with consumer prices index to £4,368.

For more information

By lending to businesses your capital is at risk. The tax-free entitlement of an ISA depends on your individual circumstances and may change.

The views expressed here belong to the author and do not represent those of Funding Circle. Funding Circle is not authorised to, and does not, provide investment, tax, legal or regulatory advice.

The information and views contained here are provided solely for informational purposes and should not be construed as legal, tax, regulatory, accounting or investment advice, or as a recommendation or an offer or invitation by Funding Circle.

To the extent permitted by law, Funding Circle does not accept any liability for any loss or damage which may arise directly or indirectly from the use of, or reliance on, such information contained here.

If you have any questions, please speak to your professional adviser or seek independent specialist advice.

By lending through Funding Circle you make a huge difference to businesses throughout the UK. With your help they’re able to grow, create jobs, develop new products and support local communities. Thank you for your continued support – you’re helping drive the UK economy forward! Read on to find out more in your spring review.

Autumn review – lending figures

Between July-Sept 2018 you and other investors helped thousands more businesses get the finance they need to thrive.

*In July-Sept 2018, new loans made through Funding Circle helped unlock 3,540 jobs across the UK.

2018 has been an incredible year at Funding Circle. A few weeks after listing on the London Stock Exchange, we’re proud to announce that our Introducer team has reached the milestone of £1 billion lent since it was formed in 2012.

To mark this occasion, we spoke to Luke Hultquist and Stuart Sterling from Halo Corporate Finance, one of the first introducers to work with us when we launched the Introducer channel.

Find out why Luke and Stuart choose to regularly introduce clients to Funding Circle in the video below. Our Head of Broker, Tom Shave, also discusses what’s coming up in 2019 and reveals the long term vision for the broker channel.

As our introducer network continues to grow across the UK, we’ll be able to help even more businesses access finance, supporting the economy and creating jobs.

Are you a commercial finance broker looking for a fast, affordable funding solution for your clients?